New Gold (NGD) Stock Moves -0.55%: What You Should Know
New Gold (NGD) closed the latest trading day at $3.60, indicating a -0.55% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily loss of 1.97%. Meanwhile, the Dow experienced a drop of 1.69%, and the technology-dominated Nasdaq saw a decrease of 2.7%.Heading into today, shares of the gold mining company had gained 34.07% over the past month, outpacing the Basic Materials sector's gain of 2.29% and the S&P 500's loss of 2.79% in that time.Investors will be eagerly watching for the performance of New Gold in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.02, showcasing a 200% downward movement from the corresponding quarter of the prior year.For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.28 per share and a revenue of $1.12 billion, signifying shifts of +40% and +21.15%, respectively, from the last year.Investors should also pay attention to any latest changes in analyst estimates for New Gold. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 8.91% higher within the past month. New Gold presently features a Zacks Rank of #3 (Hold).In the context of valuation, New Gold is at present trading with a Forward P/E ratio of 13.16. Its industry sports an average Forward P/E of 14.34, so one might conclude that New Gold is trading at a discount comparatively.We can additionally observe that NGD currently boasts a PEG ratio of 0.34. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Mining - Gold industry had an average PEG ratio of 1 as trading concluded yesterday.The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 138, putting it in the bottom 46% of all 250+ industries.The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report New Gold Inc. (NGD): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
Quelle: Zacks
